Circular No. 2452 — Establishes Complementary Rules Regarding the Opening, Maintenance, and Movement of Deposit Accounts

CIRCULAR NO. 002452

ESTABLISHES COMPLEMENTARY RULES RELATIVE TO THE OPENING, MAINTENANCE, AND MOVEMENT OF DEPOSIT ACCOUNTS.

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, IN A SESSION HELD ON 07/20/94, BASED ON ART. 17 OF RESOLUTION NO. 2,025, OF 11/24/93, AND ON ART. 5 OF RESOLUTION NO. 2,078, OF 06/15/94,

DECIDED:

ART. 1. TO CLARIFY, REGARDING THE PROVISIONS OF ART. 1 OF RESOLUTION NO. 2,025, OF 11/24/93, THAT:

I - THE MANDATORY IDENTIFICATION OF THE DEPOSITOR MUST BE OBSERVED BY ALL FINANCIAL INSTITUTIONS AND OTHER INSTITUTIONS AUTHORIZED TO OPERATE BY THE CENTRAL BANK OF BRAZIL;

II - IN THE CASE OF A LEGAL ENTITY DEPOSITOR, THE SUBMISSION OF THE INFORMATION REFERRED TO IN SUBSECTION I, ALINEMENT "A", ITEM 7, RELATING TO REPRESENTATIVES, ATTORNEYS, AND AGENTS IS WAIVED;

III - NATURAL AND LEGAL PERSONS NOT OBLIGATED TO REGISTER WITH THE CPF (INDIVIDUAL TAXPAYER REGISTER) AND CGC (GENERAL REGISTER OF LEGAL ENTITIES), IN ACCORDANCE WITH CURRENT LEGISLATION, ARE CONSIDERED EXEMPT.

ART. 2. IT IS PERMITTED, REGARDING DEPOSIT ACCOUNTS:

I - TO MAINTAIN THE RESPECTIVE DOCUMENTATION IN A CENTRALIZING UNIT, WAIVING, IN THIS CASE, THE RETENTION OF COPIES AND THE ARCHIVING OF DOCUMENTATION WHEN OPENING NEW ACCOUNTS;

II - TO USE A SINGLE PROPOSAL FORM, WHEN MORE THAN ONE DEPOSIT ACCOUNT IS OPENED IN THE SAME INSTITUTION OR IN AN INSTITUTION BELONGING TO THE SAME CONGLOMERATE, PROVIDED THAT THE FOLLOWING ARE IDENTIFIED THEREIN:

A) THE NUMBER OF EACH OF THE ACCOUNTS;

B) THE PROPOSAL FORMS OF THE OTHER HOLDERS, IN THE CASE OF A JOINT ACCOUNT.

PARAGRAPH 1. THE CENTRALIZATION PROVIDED FOR IN SUBSECTION I SHALL OCCUR WITHIN THE SAME MUNICIPALITY, EXCEPT IF THE INSTITUTION HAS A COMPUTERIZED IMAGE PROCESSING SYSTEM THAT ALLOWS EACH DEPENDENCY TO ACCESS INFORMATION IN REAL TIME.

PARAGRAPH 2. WHEN IT COMES TO A DEPOSIT ACCOUNT OPENED IN THE NAME OF A LEGAL ENTITY, THE FACULTY PROVIDED FOR IN SUBSECTION II MAY ONLY BE USED IF THE AUTHORIZED AGENTS ALLOWED TO MOVE THE ACCOUNT ARE ALSO IDENTIFIED AND IF IT IS INFORMED WHETHER MOVEMENT IS ALLOWED IN GROUP OR NOT.

ART. 3. THE PROPOSAL FORM MUST INDICATE HOW THE DEPOSITOR WILL BE INFORMED OF ANY UPDATES TO THE VALUE OF THE MINIMUM AVERAGE BALANCE REQUIRED, IF ANY, FOR THE MAINTENANCE OF THE DEPOSIT ACCOUNT.

ART. 4. THE INSTITUTION MUST KEEP ARCHIVED LEGIBLE COPIES OF THE IDENTITY DOCUMENT AND THE TAXPAYER IDENTIFICATION CARD PRESENTED AT THE TIME OF ACCOUNT OPENING, WHICH MAY BE MICROFILMED.

SINGLE PARAGRAPH. THE IDENTITY CARD WILL REPLACE THE TAXPAYER IDENTIFICATION CARD WHEN THE DEPOSITOR'S CPF REGISTRATION NUMBER IS REGISTERED THEREIN.

ART. 5. THE INDICATION OF THE SAME PERSON AS RESPONSIBLE FOR THE VERIFICATION AND CONFIRMATION OF THE DOCUMENTS PRESENTED, FOR THE SIGNING OF THE RESPONSIBILITY TERM, AND AS THE DIRECTOR WHO SHALL OVERSEE THE DEPOSIT ACCOUNTS, IN ACCORDANCE WITH ARTS. 3, PARAGRAPH 1, SUBSECTIONS I AND II, AND 15 OF THE MENTIONED RESOLUTION NO. 2,025/93, WILL BE ADMITTED.

ART. 6. IT IS OPTIONAL FOR INSTITUTIONS:

I - TO ABBREVIATE THE DEPOSITOR'S NAME IN MAGNETIC RECORDS, INCLUDING IN THE IDENTIFICATION OF CHECKBOOKS AND OTHER DOCUMENTS ISSUED BY COMPUTER;

II - TO DELIVER CHECKBOOKS VIA MAIL OR SPECIALIZED COMPANIES, PROVIDED THAT IT IS AUTHORIZED BY THE DEPOSITOR, IN WHICH SITUATION THE FINANCIAL INSTITUTION WILL BE RESPONSIBLE FOR ANY LOSSES OR MISPLACEMENTS;

III - TO SUPPLY THE CHECKBOOK VIA AUTOMATED CHECK DISPENSERS, WITH THE INDIVIDUAL ELECTRONIC PASSWORD VALID FOR CLIENT IDENTIFICATION;

IV - TO REGISTER, IN MAGNETIC MEDIA, THE INFORMATION RELATING TO THE CLOSURE OF DEPOSIT ACCOUNTS.

ART. 7. THIS CIRCULAR ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION.

BRASÍLIA, JULY 21, 1994

CLÁUDIO NESS MAUCH
DIRECTOR OF NORMS AND ORGANIZATION OF THE
FINANCIAL SYSTEM